The Long & Foster Market Minute

Focus On: Severna Park Housing Market August 2019

Zip Code(s): 21146
Units Sold
51
Active Inventory
99
Median Sale Price
$510,000
Days On Market
42
Down -9%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 51 sold this month in Severna Park Real Estate versus 49 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 9% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 18%. The total number of active inventory this August was 99 compared to 121 in August 2018. This month's total of 99 is lower than the previous month's total supply of available inventory of 115, a decrease of 14%.

Median Sale Price
Last August, the median sale price for Severna Park Homes was $527,450. This August, the median sale price was $510,000, a decrease of 3% or $17,450 compared to last year. The current median sold price is 15% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
38
Current Contracts
37
Sold Vs. List Price
97.6%
Months of Supply
1.9
Down -24%
Vs. Year Ago
Up 37%
Vs. Year Ago
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago

Months of Supply
In August, there was 1.9 months of supply available in Severna Park, compared to 2.2 in August 2018. That is a decrease of 10% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 38 homes newly listed for sale in Severna Park compared to 50 in August 2018, a decrease of 24%. There were 37 current contracts pending sale this August compared to 27 a year ago. The number of current contracts is 37% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Severna Park was 97.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 42, higher than the average last year, which was 39, an increase of 8%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.